CIBC Aventura Gold Visa Card Review

4.20

$139.00

Annual Fee

$638.91

Annual Rewards

40,000 points

Intro Offer

$139.00

Annual fee

$638.91

Annual rewards

40,000 points

Intro offer


Pros


  • Competitive welcome offer
  • Earn 2 Aventura Points per $1 spent on eligible travel purchases
  • Earn 1.5 points per $1 spent at eligible gas stations, grocery stores, and drug stores
  • Earn 1 point for every $1 spent on all other purchases
  • Comprehensive travel insurance, including travel medical, trip cancellation, and auto rental collision benefits
  • Priority airport lounge access
  • Purchase security and extended warranty protection
  • Financial tools, such as free access to your credit score through CIBC CreditSmart

Cons


  • $120 annual fee
  • Limited flexible points redemption options: primarily booked through the Aventura Travel Assistant
  • No fee waiver for additional cardholders
  • Higher earn rates on travel purchases limit the overall earning power
  • Requires a minimum annual income of $15,000+ at least as an individual or $25,000+ as a household income

How you earn rewards

Each card earns rewards differently. Part of choosing your card is deciding what type of rewards you want to get. With CIBC Aventura Gold Visa Card, here’s how you earn rewards:

Pharmacy1.5 points
Gas1.5 points
Groceries1.5 points
All Other Spend1 point

How much your rewards are worth

The dollar value of your rewards depends on the specific CIBC rewards program and what you choose to redeem your points for.

For CIBC Aventura Gold Visa Card in particular, if you spend $2,000.00 per month, here’s our estimated rewards earned depending on which reward you choose:

Redemption methodAnnual rewards
Redeem for travel$279.00
Apply to statement credit$231.57
Charity$279.00
Gift cards$198.09
Merchandise$198.09
Airlines Rewards (Charts)$638.91
CIBC financial products$231.57

Calculating your annual rewards

$24,000.00 annual spending x $2.66% return on spending = $638.91 annual rewards

$638.91 annual rewards – $139.00 annual fee = $$499.91 net annual rewards

Details and eligibility

Do I qualify?
Estimated Credit Score560 – 659
Household Income$15,000.00
Interest Rates
Purchase20.9%
Cash Advance21.9%
Balance Transfer21.9%
Fees
Annual Fee$139.00
Extra Card Fee$0
Card typeVisa

Insurance coverage

Extended Warranty1 year
Purchase Protection90 days
Travel Accident500000
Emergency Medical Term15 days
Flight Delay500
Baggage Delay500
Lost or Stolen Baggage500
Rental Car Theft & DamageYes
Hotel Burglary2500
Mobile Phone Insurance1000

CIBC Aventura Gold Visa Card Review

The CIBC Aventura Gold Visa Card is an attractive option for Canadians who enjoy travel rewards. As a Canadian credit card expert, I have assessed this card for its earning potential, benefits, drawbacks, and other pertinent information. Here are my findings:

Earning Potential

The CIBC Aventura Gold Visa Card earns Aventura Points on eligible purchases. Point rewards are distributed as follows:

  • 2 Aventura Points per $1 spent on travel booked through the CIBC Rewards Centre
  • 1.5 Aventura Points per $1 spent on gas, groceries, and at drugstores
  • 1 Aventura Point per $1 spent on all other purchases

Benefit 1: Travel Perks

Cardholders have access to personalized travel planning and booking through the CIBC Rewards Centre, where they can use their Aventura Points for flights, hotels, cruises, and more.

Benefit 2: Travel Insurance

This card provides comprehensive travel insurance coverage, including out-of-province emergency travel medical insurance, trip cancellation/interruption insurance, and baggage and personal effects insurance.

Benefit 3: Car Rental Discounts

Cardholders can enjoy discounts on rental cars, as well as complimentary car rental collision/loss damage insurance when using the Aventura Gold Visa Card for rentals.

Benefit 4: Redemption Flexibility

Aventura Points can be used for various rewards, such as flights on any airline without blackout dates, gift cards, merchandise, or statement credits against eligible travel purchases. The card also offers a “Points for Other Purchases” program, which allows users to redeem points toward practically anything they buy using the card.

Drawback 1: Annual Fee

A significant drawback of the CIBC Aventura Gold Visa Card is the annual fee of $120, which can offset some of the reward value.

Drawback 2: Less Competitive Reward Rate

The overall reward rate of this card may be less competitive when compared to other travel rewards cards in the market, particularly for those who spend more on categories other than travel, gas, groceries, and at drugstores.

Additional Information

Keep in mind that the CIBC Rewards Centre flight prices might be slightly higher than prices found elsewhere, so it’s essential to compare the costs to ensure optimal value. Furthermore, Aventura Points expire after 60 months, underscoring the importance of timely point usage to avoid forfeiting rewards.

Interested in other credit cards? If the CIBC Aventura Gold Visa Card credit card isn’t perfect for you, you might want to consider the CIBC Aeroplan Visa Card. Plus, many Canadian’s that like the CIBC Aventura Gold Visa Card like the CIBC US Dollar Aventura Gold Visa Card, and the CIBC AC Conversion Visa Prepaid Card.

FAQ

With the CIBC Aventura Gold Visa Card, you can redeem your accumulated Aventura Points for various rewards. These rewards include:

  • Travel: You can use your points to book flights, hotels, cruises, vacation packages, and car rentals through the CIBC Rewards Centre. Additionally, you can combine points and cash to make redemptions.
  • Merchandise: Redeem your points for a wide range of products, such as electronics, home appliances, fashion items, and more, available through the CIBC Rewards Catalogue.
  • Gift Cards: You can exchange your points for gift cards from popular retailers, restaurants, and entertainment venues.
  • Financial Products: Use your points to make payments toward your CIBC mortgage, line of credit, or loan, or to contribute to a CIBC investment product like a Registered Retirement Savings Plan (RRSP) or a Tax-Free Savings Account (TFSA).
  • Charitable Donations: Optionally, you can donate your Aventura Points to support various charitable organizations.

The CIBC Aventura Gold Visa Card does come with foreign transaction fees. CIBC charges a fee of 2.5% on purchases made in a foreign currency, which is in addition to the converted amount of the transaction. This percentage is standard across many Canadian credit card issuers when making transactions in a currency other than Canadian dollars.

Yes, the CIBC Aventura Gold Visa Card has a minimum income requirement. For a primary cardholder, the required minimum annual income is $15,000 for both Canadian residents and non-residents. Also, the applicant should be able to demonstrate a good credit history to be eligible for the card.

Key benefits

  • Welcome bonus of up to 20,000 Aventura Points upon qualifying purchases
  • Aventura Points do not expire for cardholders, ensuring long-term rewards
  • Complimentary first checked bag for air travel when rewards are redeemed
  • 24/7 access to personalized travel planning services
  • Mobile device insurance covering eligible smartphones and tablets
  • Access to Visa Infinite Dining Series and Wine Country experiences
  • No foreign transaction fee on purchases made outside of Canada
  • Invitations to special events and promotions exclusive to cardholders
  • Assistance for services, such as roadside emergencies, as part of Visa Infinite Privilege Concierge
  • Flexibility to redeem rewards points on merchandise, gift cards, and activities

About The Author